Veralto Co. (NYSE:VLTO) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its stake in Veralto Co. (NYSE:VLTO) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,398,920 shares of the company’s stock after selling 34,399 shares during the quarter. Veralto comprises 1.7% of Impax Asset Management Group plc’s portfolio, making the stock its 11th largest position. Impax Asset Management Group plc owned about 1.78% of Veralto worth $419,275,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VLTO. LRI Investments LLC acquired a new stake in Veralto during the 1st quarter valued at approximately $30,000. Delta Asset Management LLC TN grew its stake in Veralto by 216.0% during the 4th quarter. Delta Asset Management LLC TN now owns 316 shares of the company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Veralto during the 4th quarter valued at approximately $27,000. Cassady Schiller Wealth Management LLC acquired a new stake in Veralto during the 4th quarter valued at approximately $30,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Veralto during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,096 shares of company stock worth $2,772,707. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on VLTO shares. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, UBS Group started coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.46.

Veralto Stock Performance

Veralto stock traded up $0.53 during mid-day trading on Friday, hitting $110.38. 108,933 shares of the company’s stock traded hands, compared to its average volume of 1,526,115. The firm has a 50 day moving average price of $103.96 and a 200 day moving average price of $97.00. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The company has a market cap of $27.28 billion and a PE ratio of 33.49. Veralto Co. has a one year low of $65.51 and a one year high of $112.77.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. On average, equities analysts forecast that Veralto Co. will post 3.45 EPS for the current year.

Veralto Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.